MGL Showing signs of strength MGL
CMP 905
In our previous post we had recommended MGL for a buy around 860 for target of 920 and it worked to perfection to the point making a high of 919
Looking at the charts again we observe
- price action holding on to the gap zone between 902-868
- 20 day EMA crossover above 50 day EMA in late November- early December 2018
- thereafter re-test first at 50 day EMA and now we see price holding above 20 day EMA on 2 occasions
Given the set up one may consider to buy at cmp and on dips towards 888 for target of 933 / 965 / 1034 levels
SL if closing below 865
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